Squawk on the Street
Micron CEO on the CHIPS Act and the Company's Warning. Also: "Meme Stock Madness" Returns. 8/9/22
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Show notes
Jim Cramer and David Faber took an in-depth look at weakness in the chip sector after a revenue warning from Micron due to slumping
demand. Micron CEO Sanjay Mehrotra joined the program from the White House ahead of President Biden's signing of the CHIPS
and Science Act into law. The anchors also explored the massive rebound in "meme stocks" such as AMC, GameStop and
Bed Bath and Beyond -- with BBBY doubling month-to-date. Also in focus: AppLovin's unsolicited takeover bid for Unity Software,
Novavax plunges after slashing its sales forecast, and more pain for gaming as Take-Two Interactive issues weaker-than-expected revenue guidance.
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